Web
Analytics
The news is by your side.

Debts

Africa still sees China as best bet for financing

BEIJING: A wave of African nations looking to restructure debt with China on the eve of a major Beijing summit provides a reality check for the continent, where most countries still view Chinese lending as the best bet to develop their economies. China has denied engaging in “debt trap” diplomacy, but President Xi Jinping is likely to use next week’s gathering of African leaders to offer a new round of financing, following a pledge of $60 billion at the last summit three years ago. Ethiopia and Zambia, heavy borrowers…

Warning about inflation, Imran says currency depriciation to directly affect masses

MIANWALI: Pointing towards recent devaluation of Pakistani rupee against dollar, Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Monday said the currency depreciation would directly affect the masses. "The depreciation of Pakistani rupee multiplies our foreign debts and to tackle this situation more taxes are imposed resulting in high costs of commodities," he said while addressing a public gathering in Mianwali, his hometown. He said the biggest problem facing Pakistan was surge in debts.  Comparing…

Warning about inflation, Imran says currency depreciation to directly affect masses

MIANWALI: Pointing towards recent devaluation of Pakistani rupee against dollar, Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Monday said the currency depreciation would directly affect the masses. "The depreciation of Pakistani rupee multiplies our foreign debts and to tackle this situation more taxes are imposed resulting in high costs of commodities," he said while addressing a public gathering in Mianwali, his hometown. He said the biggest problem facing Pakistan was surge in debts.  Comparing prices of…

Each Pakistani indebted of Rs. 0.115 mln

ISLAMABAD: Each Pakistani citizen owes Rs. 115,000 loan, the central bank disclosed in its recently released figures. According to the statistics released by the State Bank of Pakistan (SBP), the volume of the loans borrowed by the country has increased to Rs. 23 trillion by the end of December of FY16-17, which is 10 percent higher than the last year. The State Bank has stated that the volume of the outstanding foreign debts against Pakistan has reached to Rs. 78 trillion. According to the released figures the…

EU banks at risk from bad loans, low profit: regulator

LONDON: The greatest risks facing European Union banks are high levels of bad loans and lower profitability, the bloc's financial regulator said in a report Friday. The European Banking Authority said that while EU-wide lenders had strengthened their capital buffers, technology-related risks were increasing amid lingering litigation concerns. Presenting its ninth report on "risks and vulnerabilities in the EU banking sector", the EBA pointed to "high levels of non-performing loans (NPLs) and sustained low…